Clarkston Capital Partners LLC cut its stake in U.S. Bancorp (NYSE:USB) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,264 shares of the financial services provider’s stock after selling 7,205 shares during the period. Clarkston Capital Partners LLC’s holdings in U.S. Bancorp were worth $23,219,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of USB. Stelac Advisory Services LLC bought a new stake in U.S. Bancorp during the 2nd quarter worth $103,000. Phocas Financial Corp. bought a new stake in shares of U.S. Bancorp in the 2nd quarter valued at about $109,000. Pathstone Family Office LLC grew its position in shares of U.S. Bancorp by 13.2% in the 2nd quarter. Pathstone Family Office LLC now owns 3,317 shares of the financial services provider’s stock valued at $172,000 after buying an additional 386 shares during the last quarter. Hudock Capital Group LLC grew its position in shares of U.S. Bancorp by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 3,804 shares of the financial services provider’s stock valued at $197,000 after buying an additional 17 shares during the last quarter. Finally, Cadence Bank NA bought a new stake in shares of U.S. Bancorp in the 3rd quarter valued at about $201,000. 73.96% of the stock is owned by institutional investors.
U.S. Bancorp (NYSE USB) traded up $0.30 during trading on Friday, hitting $56.98. The stock had a trading volume of 5,339,764 shares, compared to its average volume of 6,297,300. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.79. U.S. Bancorp has a 52-week low of $49.53 and a 52-week high of $57.12. The company has a market capitalization of $94,560.00, a price-to-earnings ratio of 16.96, a P/E/G ratio of 1.93 and a beta of 0.85.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.88. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.60 billion. During the same quarter last year, the business posted $0.84 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. research analysts forecast that U.S. Bancorp will post 3.42 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.20 dividend on an annualized basis and a yield of 2.11%. U.S. Bancorp’s payout ratio is 35.71%.
USB has been the topic of a number of research reports. Zacks Investment Research raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. Instinet downgraded U.S. Bancorp from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $57.00 to $55.00 in a research note on Thursday, September 28th. Vining Sparks reissued a “buy” rating and issued a $64.00 price objective on shares of U.S. Bancorp in a research note on Monday. Robert W. Baird reissued a “hold” rating and issued a $48.00 price objective on shares of U.S. Bancorp in a research note on Friday, October 6th. Finally, UBS Group downgraded U.S. Bancorp from a “buy” rating to a “neutral” rating and increased their price target for the company from $58.00 to $60.00 in a research report on Tuesday, December 12th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. U.S. Bancorp has an average rating of “Hold” and a consensus target price of $56.22.
About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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